The Company's U.S. Subsidiary NuLeaf Naturals
Also Launches Revamped Subscribe-and-Save Discount Program
CALGARY,
AB, May 25, 2022 /CNW/ - High Tide Inc.
("High Tide" or the "Company") (NASDAQ: HITI) (TSXV:
HITI) (FSE: 2LYA), a leading retail-focused cannabis company with
bricks-and-mortar as well as global e-commerce assets, announced
today that its subsidiary, Blessed CBD, has launched a CBD
Subscribe-and-Save program in the United
Kingdom called the Wellness Club. Under the Wellness Club
program, members will be able to customize their orders each month
with items from across Blessed CBD's product lines, including oils,
gummies, capsules, and topicals. Members will also be able to
customize their own delivery schedules within a range of every two
weeks to every twelve weeks, allowing delivery frequencies to
optimally match each member's needs. In addition, by joining the
Wellness Club, members will receive a 20% discount on their first
purchase and a 25% discount thereafter for life on all Blessed CBD
products, meaning that members will be able to access the steepest
discounts that Blessed CBD has ever offered. Members will further
be eligible to participate in exclusive monthly raffles where the
winners will receive free CBD products.
![High Tide Inc. May 25, 2022 (CNW Group/High Tide Inc.) High Tide Inc. May 25, 2022 (CNW Group/High Tide Inc.)](https://mma.prnewswire.com/media/1825505/High_Tide_Inc__High_Tide_Subsidiary_Blessed_CBD_Launches_Subscri.jpg)
In addition to improving convenience and savings for members,
the launch of the Wellness Club will further solidify customer
loyalty and brand equity for Blessed in the U.K. Because
Wellness Club members will be enrolled in a service that
auto-renews their orders, Blessed CBD expects to boost its lifetime
value per customer beyond current levels. The Wellness Club will
also allow Blessed CBD to grow a recurring revenue stream that will
be much more predictable than the current system of customers being
required to manually place their orders. Although the Wellness Club
will initially only be available in the United Kingdom, Blessed CBD intends to expand
the program into Germany in the
future.
"The launch of Blessed CBD's Wellness Club, as well as NuLeaf
Naturals' revamped Subscribe-and-Save program, are further examples
of the cross-platform synergies that High Tide has been able to
develop as a result of our forward-thinking acquisition strategy.
Over the past year, we have acquired businesses that are
well-positioned to cultivate recurring and predictable revenue
streams through the innovative use of value-based loyalty and
subscription programs," said Raj Grover, President and Chief
Executive Officer of High Tide. "As we continue to build upon our
diversified cannabis ecosystem, I expect that we will be able to
drive further revenue growth with minimal capital cost by
leveraging our organic innovations and applying them across our
various platforms. Today's announcement also further demonstrates
our commitment to expanding our presence, customer bases, and
revenues through legal activities in markets such as the U.K. and
the U.S., where full cannabis legalization has not yet come to
pass. We look forward to launching additional organic
innovations across our portfolio," added Mr. Grover.
NULEAF NATURALS LAUNCHES REVAMPED SUBSCRIBE-AND-SAVE
PROGRAM
The Company also announced today that its United States-based subsidiary, NuLeaf
Naturals, has launched a revamped Subscribe-and-Save program, based
on the success of the similarly-named and designed subscription
program launched by fellow U.S. Subsidiary, FAB CBD, in March of
2022. Under this program, customers will be able to customize their
orders each month to suit their specific needs, with items from
across all NuLeaf Naturals product lines including oils, softgels,
topicals, and pet treats. Customers will also have the ability to
customize their delivery frequency for each individual product in
their order, allowing delivery frequencies to optimally match each
customer's needs for every product. In addition, by opting-in to
the Subscribe-and-Save discount program, customers will receive a
20% discount for life on all NuLeaf Naturals products that they
purchase, similar to what is offered by FAB CBD in the U.S. market
currently.
ABOUT HIGH TIDE
High Tide is a leading retail-focused cannabis company with
bricks-and-mortar as well as global e-commerce assets. The Company
is the largest non-franchised Canadian retailer of recreational
cannabis as measured by revenue, with 122 current locations
spanning Ontario, Alberta, Manitoba, and Saskatchewan. High Tide was featured in the
third annual Report on Business Magazine's ranking of Canada's Top Growing Companies in 2021 and was
named as one of the top 10 performing diversified industries stocks
in the 2022 TSX Venture 50™. The Company is also North America's first and only cannabis
discount club retailer, featuring Canna Cabana, Meta Cannabis Co.,
and Meta Cannabis Supply Co. banners, with additional locations
under development across the country. High Tide's portfolio also
includes retail kiosk and smart locker technology – Fastendr™. High
Tide has been serving consumers for over a decade through its
established e-commerce platforms including Grasscity.com,
Smokecartel.com, Dailyhighclub.com, and Dankstop.com and more
recently in the hemp-derived CBD space through Nuleafnaturals.com,
FABCBD.com, BlessedCBD.co.uk, and BlessedCBD.de, as well as its
wholesale distribution division under Valiant Distribution,
including the licensed entertainment product manufacturer Famous
Brandz. High Tide's strategy as a parent company is to extend and
strengthen its integrated value chain, while providing a complete
customer experience and maximizing shareholder value.
Neither the TSXV nor its Regulation Services Provider (as that
term is defined in the policies of the TSXV) accepts responsibility
for the adequacy or accuracy of this release.
For more information about High Tide Inc., please visit
www.hightideinc.com, its profile page on SEDAR at www.sedar.com,
and its profile page on EDGAR at www.sec.gov.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements in this news release are forward-looking
information or forward-looking statements. Such information and
statements, referred to herein as "forward-looking statements" are
made as of the date of this news release or as of the date of the
effective date of information described in this news release, as
applicable. Forward-looking statements relate to future events or
future performance and reflect current estimates, predictions,
expectations or beliefs regarding future events. Any statements
that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions
or future events or performance (generally, forward-looking
statements can be identified by use of words such as "outlook",
"expects", "intend", "forecasts", "anticipates", "plans",
"projects", "estimates", "envisages, "assumes", "needs",
"strategy", "goals", "objectives", or variations thereof, or
stating that certain actions, events or results "may", "can",
"could", "would", "might", or "will" be taken, occur or be
achieved, or the negative of any of these terms or similar
expressions, and other similar terminology) are not statements of
historical fact and may be forward-looking statements.
Forward-looking statements in this news release include statements
relating to: the expected financial benefits of the Blessed CBD and
NuLeaf Naturals subscription services, including the Company's
expectation that the subscription service will boost the lifetime
value per customer and will allow the Company to cultivate a more
predictable recurring revenue stream, Mr. Grover's statements with
respect to further growing the Company's revenues by leveraging its
diversified cannabis ecosystem through organic innovations and
without added capital cost, the Company's strategy as a parent
company to extend and strengthen its integrated value chain, while
providing a complete customer experience and maximizing shareholder
value.
Such forward-looking statements are based on assumptions that
may prove to be incorrect, including but not limited to customer
demand for the Blessed CBD and NuLeaf Naturals subscription
services, the Company's ability to further grow the Company's
revenues by leveraging its diversified cannabis ecosystem without
added capital cost, or at all, the Company's ability to extend and
strengthen its integrated value chain while providing a complete
customer experience and maximizing shareholder value, the Company's
ability to execute on its business plan and that High Tide will
receive one or multiple licenses from Alberta Gaming, Liquor &
Cannabis, British Columbia's
Liquor Distribution Branch, Liquor, Gaming and Cannabis Authority
of Manitoba, Alcohol and Gaming
Commission of Ontario or the
Saskatchewan Liquor and Gaming Authority permitting it to carry on
its Canna Cabana Inc. business. High Tide considers these
assumptions to be reasonable in the circumstances. However, there
can be no assurance that any one or more of the government,
industry, market, operational or financial targets as set out
herein will be achieved. Inherent in the forward-looking statements
are known and unknown risks, uncertainties and other factors that
could cause actual results, performance or achievements, or
industry results, to differ materially from any results,
performance or achievements expressed or implied by such
forward-looking statements.
The forward‐looking statements contained herein are current
as of the date of this news release. Except as required by law,
High Tide does not have any obligation to advise any person if it
becomes aware of any inaccuracy in or omission from any
forward-looking statement, nor does it intend, or assume any
obligation, to update or revise these forward-looking statements to
reflect new events or circumstances. Any and all forward-looking
statements included in this news release are expressly qualified by
this cautionary statement, and except as otherwise indicated, are
made as of the date of this news release.
This news release does not constitute an offer to sell or
a solicitation of an offer to buy any of the securities in
the United States of America. The
securities have not been and will not be registered under the
United States Securities Act of 1933 (the "1933 Act") or any state
securities laws and may not be offered or sold within the United States or to U.S. Persons (as
defined in the 1933 Act) unless registered under the 1933 Act and
applicable state securities laws, or an exemption from such
registration is available.
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SOURCE High Tide Inc.